New attraction for City-Point in Braunschweig: the Irish cult brand Primark will move as anchor tenant in the ECE-managed shopping center in Braunschweig's city center.
The sales area of the new Primark store comprises more than 6,000 m² totaling more than 8,000 m² of rental space. It will expand from the ground floor up to the fourth floor. Opening is scheduled for autumn 2014.
"We are proud that Primark chose City-Point for its new store in Braunschweig. The complete city center will benefit from the new flow of visitors," says ECE Center Manager Philipp Schröder. The Scottish Widows European Balanced Property Fund is the Landlord for the center and has agreed to refurbish the area in return for a 15-year lease.
Investment Director at SWIP (Scottish Widows Investment Partnership) and manager of the fund, Paul Findlay, commented "I am delighted to see Primark confirmed as the anchor tenant for this property. This deal comes after focused delivery of our strategy with our management partners, ECE.
The initiative will be a vibrant contribution to the immediate and to the City of Braunschweig as a whole". Primark will also substantially invest in its new store in order to be represented in Braunschweig in the long term. Both parties are delighted to be now able to expand their customer relationship existing in the UK to Germany.
Primark's concept of success is based on very modern high-quality products at affordable prices. In Germany, Primark currently operates nine stores, among others in the Thier-Galerie in Dortmund also developed by ECE.
City-Point in Braunschweig, a former Hertie department store, was converted by ECE in a shopping center with approx. 12,300 m² sales area on six floors in 1988.
Today's tenants include among others Hallhuber, dm, Douglas, Pandora, Runners Point, Pimkie, and Orsay. For customers arriving by car are around 1,000 parking spaces available in neighboring car parks. Owner of City-Point is Scottish Widows Investment Partnership. Long-term management is realized by ECE.